Time for filing declarations

# A.

In general. If a corporation expects its income tax less allowable credits to exceed $1,000 at the beginning of the taxable year then the corporation must make its declaration of estimated tax on or before the 15th day of the 4th month of the taxable year (April 15 for a calendar year corporation) and the declaration must be accompanied by the installment payment for the first quarter.

Corporations which expect their income tax less allowable credits to exceed $1,000 as a result of events occurring after the beginning of a taxable year shall make a declaration of estimated tax at the time specified below. Examples of events occurring after the beginning of a taxable year are: a foreign corporation registering to do business in Virginia and acquisition of a corporation doing business in Virginia.

The date on which a corporation first estimates that its Virginia income tax less allowable credits will exceed $1,000 determines the date that the declaration of estimated tax is required to be filed.

# 1.

If such date is before the 1st day of the 4th month of the taxable year the declaration is required to be filed on or before the 15th day of the 4th month of the taxable year.

# 2.

If such date is after the last day of the 3rd month and before the 1st day of the 6th month of the taxable year the declaration is required to be filed on or before the 15th day of the 6th month of the taxable year.

# 3.

If such date is after the last day of the 5th month and before the 1st day of the 9th month of the taxable year the declaration is required to be filed on or before the 15th day of the 9th month of the taxable year.

# 4.

If such date is after the last day of the 8th month and before the 1st day of the 12th month of the taxable year the declaration is required to be filed on or before the 15th day of the 12th month of the taxable year.

# B.

Amendments. If a corporation expects its Virginia income tax less allowable credits to differ from the declaration of estimated tax for the taxable year, it shall amend the declaration. Only one amendment may be filed in the interval between installment dates. The amendment shall be reported on the voucher for the installment of estimated tax due after the corporation discovers the change in the estimated tax.

# C.

Short taxable years. No declaration of estimated tax is required for a short taxable year of less than four months or if the date the corporation first expects its estimated tax to exceed $1,000 occurs on or after the first day of the last month of the short taxable year. In all other cases the declaration is due as provided in subsection A.